It is estimated that by 2027, the global smart dimming film market will reach US$9.026.9 billion
It is estimated that by 2027, the global smart dimming film market will reach US$9.026.9 billion, with a compound annual growth rate of 15.7% during the forecast period and US$2.9348 billion in 2019.
The coronavirus crisis has caused tremendous damage to the world economy. This sudden health crisis has had a negative impact on all walks of life around the world. The continuous support of the government and some companies can help fight this highly contagious virus. Some industries are struggling, some industries are booming, and almost every sector is more or less affected by the epidemic.
In the construction industry, the increasing adoption of smart dimming films will have a huge impact on the market. The use of smart films in buildings can shield ultraviolet and solar radiation, which will further stimulate market demand. Maintaining the ambient temperature in the infrastructure, this rising tendency will create opportunities for the market. The application of HVAC systems is reduced, and the use of smart films can achieve energy-saving effects. The growing trend of green and energy-efficient buildings will make the market expand rapidly. In addition, due to its ability to reduce sunlight exposure, more and more people are accepting smart dimming films in the automotive industry. At the same time, the rising demand for sunroofs and windshield cars will further promote the healthy growth of the market. Hospitals and medical facilities are increasingly adopting smart dimming film because it is easy to sterilize and therefore will help the market develop during the epidemic.
In 2019, the European smart dimming film market was 1.291.3 billion U.S. dollars. In the next few years, due to the growing demand in the automotive industry, the market will also rise sharply. Due to the increasing adoption of smart dimming films in the construction, automotive and medical industries, the North American market will also experience high growth during the forecast period.
As smart dimming film has more advantages than curtains, people's demand is increasing, which will make the market expand rapidly. The booming consumer electronics industry in the Asia-Pacific region is expected to make the smart film market occupy an important share. With rapid industrialization and construction activities in other parts of the world, market demand is expected to be high.